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The Johan Sverdrup Oil Field development has been given the green light and major contracts have been awarded. Johan Sverdrup is among the largest oil fields on the Norwegian shelf, and will at peak contribute with 25% of the production from the Norwegian shelf.

Description

PSVM is located in NE of Block 31 in 2,000 meters of water. The development is named after four fields Plutao, Saturno, Venus and Marte. Recovery of 533 mmbbls (gross) is expected during the license period. PSVM comprises 48 wells (22 initial producers, 16 water injectors, two gas injectors and 8 later infills).

The PSVM FPSO is capable of processing 157,000 barrels of oil per day and 245 million cubic feet per day of production gas with a storage capacity of 1.8 million barrels of oil

Contractors

MODEC: Frame Agreement for the supply of an FPSO under an EPCI contract